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4 AGREEMENT 1 BETWEEN INDIAN RIVER COUNTY, FLORIDA AND SUNLAND DEVELOPMENT, INC. FOR THE CONSTRUCTION OF A REGIONAL LIFT STATION ASSOCIATED GRAVITY SEWER SYSTEMS THIS AGREEMENT by and between INDIAN RIVER COUNTY, a political subdivision ofthe State of Florida, the address of which is 1840 25th Street, Vero Beach, Florida 32960 (hereinafter the "COUNTY") and SUNLAND DEVELOPMENT, INC., the address of which is 6823 Vista Parkway N. West Palm Beach, FL 33411 , (hereinafter the DEVELOPER) is effective upon execution by the second of the two parties. WHEREAS, the DEVELOPER, in conjunction with the construction improvements at Diamond Lake Subdivision, is providing water and wastewater facilities to serve the subject property located at 5225 91' Street S .W. , and more specifically described in Exhibit "A"; and WHEREAS, pursuant to Section 918. 05, The Code of Indian River County (Ordinance 9046, as amended), the COUNTY, requires the DEVELOPER to provide the utility improvements to serve the regional area, and agrees to reimburse the DEVELOPER, as provided herein, for the cost of providing these Regional Lift Station and Associated Gravity Sewer System hereinafter the LIFT STATION. NOW, THEREFORE, for and in consideration of the mutual promises set forth herein and other good and valuable consideration, the COUNTY and DEVELOPER agree as follows: 1 a. REGIONAL SEWAGE COLLECTION / TRANSMISSION SYSTEM: The DEVELOPER shall construct a Regional Sewage Lift Station, Gravity Sewers, Force Mains and all other necessary appurtenances as directed by the Indian River County Department of Utility Services during the construction of Phase I of the Diamond Lake Subdivision, as illustrated in Exhibits "B" and "C". Reimbursement: The estimated cost of the Regional Sewer System is shown in Exhibit ` D' . The COUNTY shall reimburse the DEVELOPER for funds advanced by DEVELOPER to construct regional facilities as requested by Indian River County Department of Utility Services based upon an equitable reimbursement formula using the service area shown in Exhibit "C", and the actual cost of the Regional Sewer System based on an itemized invoice of the installed material at the time the Regional Sewer System is dedicated to and accepted by the COUNTY. The funds to reimburse the COUNTY shall derive from the connection charges of other properties that use the constructed lines and facilities based on their share of ERU ' s as outlined in the table below. The COUNTY shall reimburse the DEVELOPER based on an itemized invoice of the installed material on a complete monthly basis (less 10% retainage), with final payment and release of retainage at the time the above referenced facilities are dedicated to and accepted by the County. Reimbursement shall be in the form of a check from the COUNTY. The ERU's and percentages shown in the table below are based upon the actual units proposed for construction in Diamond Lakes Subdivision. The two parcels (Parcel #2 and #3 as shown on Exhibit "C') are currently zoned AG and are presumed to be capable of developing at RS-3 in the future with an average density of 1 . 53 units/acre. Parcel #4 is Four Lakes Subdivision, which has the potential for 58 ERU' s single-family residential units. The Sewage Collection/Transmission System is comprised of three primary parts, herein designation as D- 1 , D-2 and D-3 . D4 is the common lift station, force main and associated appurtenances that are shared amongst four benefiting parcels. 13-2 is a gravity sewer system that is shared amongst three adjoining parcels. D-3 is another gravity sewer line that is shared amongst three adjoining parcels. Page 1 C:�DO(.'Ul�N'ISAND SECfINGS�i11ACAL SEITAIGS'[FAPORARY IIi7F1tNEf - DEVELOPERS AGREEA42J'C - OFFSITE UTQ.ITMS MARCH 15 2(IMIDOC